Rant

Trillions

Posted 15 months ago|4 comments|588 views

For Purposes of Fairness

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obama , raise taxes , 15,000,000,000 , deficit , Gross National Product

Written by

redstateguy

On the following website:

http://www.washingtontimes.com/news/2011...

it is being reported that, under President Barrack Hussein Obama, our nation's DEBT, Fifteen Trillion Dollars ($15,000,000,000.00) will EQUAL the entire Gross Domestic Product of the United States of America next year.

To reiterate, Barrack Hussein Obama is President.

Every penny every American earns for every hour worked during the entire year will equal the Federal Debt next year.

What is Obama's response?

http://www.atr.org/obamas-fy-budgetbr-ta...#

Raise taxes to the order of $1,500,000,000.00 (Trillion) Dollars over the next 10 years.

Uh....people. Wake up. Soon.

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markbyrn

Moderator

15 months ago: You make it sound like Moon Beam Bush didn't hand off the trillions in debt.

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Kqm2010

15 months ago: Well after john boehoner 's cuts kick in they said on cspan 1 million to 800 thousand jobs will be lost. That is all the jobs created in 2010. The republicans are doing a real good job putting us back to work.

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Altruist
Eugene, OR

15 months ago: The federal budget is a lot like your own household budget. Currently most homeowners are working but a lot are underemployed. They only work part time so the employer can get out of paying benefits like health care and pensions. So the homemakers have tightened their belts. They don't eat out or buy new cars, they shop at the 99 cent stores. Rent takes about 50% of the income, health insurance takes another 40%, gas,tires, car payments, food. take more than the remaining 10% so when things go wrong it gets put on the credit card.

Things are already cut to the bone and no more economizing will help, so the only way to pay off those credit card debts is to get another job.

Our nation is like that. Ever since Reagan we have been cutting spending and now education is only available for the rich, and we can't compete globally because we are rated 25th. Our infrastructure is like the household's house,which is crumbling. Roads, Water, sewage, power plants and all of the pipes and wires to deliver everything is about 50 years old and badly in need of repair or replacement, but all of this has been deferred because of budget cuts. We cant tighten our belts much more as far as discretionary spending.

Still we are spending more on the military than the rest of the world combined. That is like someone in the ghetto with a house that is falling apart, buying a new Cadillac every year to impress the neighbors.

Social Security is like our retirement system. It is the only part of our government that is stable and not bankrupt. Right now we are spending more than we take in and in 2037 they will only be able to pay 80% of what they do now, but that can be easily tweaked.

The cost of Medicare needs to be reduced, and the affordable care act starts doing that and made it stable for an additional 18 years, and provides a framework for future stabalization.

If the nation isn't willing to get rid of it's Caddilac military programs, the only alternative is to increase revenue. THe rich in this country are like the homeowner only working 20 hr. a week.

At every other time in history when we were at war or in economic peril the top tax rates on the rich were 90%. The effective tax rates of the super rich in this country is only 16.7% and 60% of the people favor increasing taxes on the rich so they are paying their fair share. http://blogs.examiner.net/blogs/pensivep...

Most of the tax increases listed in the second link in your article are from allowing the Bush tax breaks to the rich expire. Just allowing those to expire (as was agreed to) will raise $45 billion a year. That is just about as much as the money saved by the draconian budget cuts the Republicans are proposing.

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The Cypress Gang

15 months ago: Make sure to visit...

http://www.rantrave.com/Rant/RantRave-Go...

and say bye-bye to the end of a Perfect Horizon.

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